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LATEST NEWS:
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News for May 2000
9th May 2000 0 comments
Recycled Solutions for Industry Inc has changed its name to Resin Systems Inc.
9th May 2000 0 comments
Primix Corporation’s President Marc Shea and VP of Engineering Carl Fisher will be in Munich, Germany May 4th through May 10th accompanied by Mr. Paul T. Jones, a respected railway consultant for over 40 years, to meet with German Professor and Director of Engineering, Josef Eisenmann. Primix has been invited to meet with Josef Eisenmann at MTU to discuss the merits and technological advancements of Primix’s revolutionary “Engineered Composite Railroad Tie”.
9th May 2000 0 comments
BGF Industries, Inc. announced today that net sales for the quarter ended March 31, 2000 increased $0.8 million, or 1.8%, to $45.9 million as compared to $45.1 million for the quarter ended March 31, 1999. This increase was due primarily to an increase in the sales of filtration fabrics that was partially offset by a decrease in the sales of composite products. BGF, headquartered in Greensboro, NC, manufactures specialty woven and non-woven fabrics made from glass, carbon and aramid yarns for use in a variety of electronic, filtration, composite, insulation, construction, and commercial products.
9th May 2000 0 comments
Karta Technologies Inc. has been awarded a Small Business Innovative Research (SBIR) Phase II contract to Develop Surface Protective Coatings on Carbon-Carbon Composites Used in Aerospace Applications. The technology will enable C/C to be used at elevated temperatures in applications such as heat exchangers, power generation, future generation missile systems, automotive and aerospace. The technology developed in this research program will enhance the reliability and performance of C/C composites.
9th May 2000 0 comments
Brunswick Technologies announced its Board of Directors voted to recommend that BTI shareholders reject as inadequate the unsolicited $8.00 per share offer made by Vetrotex CertainTeed Corporation. In return, CertainTeed confirmed their commitment to the tender offer and sent an open letter to BTI Board of Directors to say that they believed that their offer was in the best interest of all BTI’s constituencies. This generated an open letter from Brunswick to certainteed to say that BTI will continue to aggressively explore strategic alternatives to enhance value for all BTI shareholders, with or without the willing participation of Certainteed. There’s too much here for this newsletter, but please e-mail info@netcomposites.com for the full details
16th May 2000 0 comments
Brunswick Technologies, Inc said that Institutional Shareholders Services (“ISS”), the world’s leading provider of proxy advisory services, has recommended to investors that they support BTI management’s proposals contained in management’s proxy for the Company’s annual meeting scheduled for today (May 16, 2000). ISS has recommended for the election of BTI’s directors, the approval of a plan to amend the 1997 Equity Incentive Plan and ratification of PricewaterhouseCoopers LLP as the Company’s independent auditors. ISS recommended that investors execute their votes on management’s white proxy card and discard the blue proxy card distributed by Vetrotex CertainTeed Corporation, a wholly-owned subsidiary of Compagnie de Saint Gobain, which is currently engaged in a takeover attempt of BTI.
16th May 2000 0 comments
NASA is setting sail for the stars – literally. NASA’s Marshall Space Flight Center in Huntsville, Ala., is developing space sails technology to power a mission beyond our solar system. “This will be humankind’s first planned venture outside our solar system,” said Les Johnson, manager of Interstellar Propulsion Research at the Marshall Center. “This is a stretch goal that is among the most audacious things we’ve ever undertaken.” The interstellar probe will travel over 23 billion miles beyond the edge of the solar system. Proposed for launch in a 2010 time frame, an interstellar probe – or precursor mission, as it’s often called – will be powered by the fastest spacecraft ever flown. Johnson says transportation is quite possibly the toughest challenge with interstellar missions because they have to go so far, so fast. “The difficulty is that rockets need so much fuel that they can’t push their own weight into interstellar space. The best option appears to be space sails, which require no fuel,” he said. Thin, reflective sails could be propelled through space by sunlight, microwave beams or laser beams – just as the wind pushes sailboats on Earth. Rays of light from the Sun would provide tremendous momentum to the gigantic structure. The sail will be the largest spacecraft ever built, spanning 440 yards. Researchers are optimistic about recent breakthroughs with strong, lightweight composite materials. A leading candidate for sails is a carbon fiber material whose density is less than one-tenth ounce per square yard – the equivalent of flattening one raisin to the point that it covers a square yard. In space the material would unfurl like a fan when it’s deployed from an expendable rocket.
16th May 2000 0 comments
The SGL Carbon Group’s consolidated sales in Q1 2000 were, at DM 569 million, 38% up on the previous year’s period. The operating result increased as planned in the first quarter and, at DM 45 million, was 150% up on the weak first quarter of the previous year. The extraordinarily significant improvements in earnings in the Carbon and Graphite and Specialty Graphite Business Areas contrasted with losses in the Corrosion Protection Business Area arising from integration and portfolio adjustment costs and in the Fibers and Composites Business Area from start-up costs for the fiber production facilities and for the high-technology areas of fuel cell components and brake discs. The net income for the quarter amounted to DM 7 million and earnings per share according to DVFA/SG DM 0.66.
16th May 2000 0 comments
Revenue for the three month period ended March 31, 2000 was $690,807, a 203% increase over revenues of $339,773 reported in the three months ended March 31, 1999. The increase is attributable to increases in demand for Vanguard’s sheet metal, composite and labour services. Gross profit increased to $158,307 in the quarter ended March 31, 2000 compared to $106,406 in the same period in the prior year. The delivery and installation of the composite cure oven and ancillary equipment completes the initial equipping of the composite department. The composite department can now undertake almost any composite repair except for the most advanced. A priority objective for Vanguard in 2000 is to expand its composite business to utilize these new capabilities.
16th May 2000 0 comments
Compositech Ltd. a developer of high tech laminates for the printed circuit board industry, today reported results for the first quarter ended March 31, 2000. Because of the Company’s decision to suspend manufacturing operations in December 1999 and refocus its resources on locating suitable licensees, joint venture partners or purchasers for its patented technology and equipment design, the Company did not record any sales, manufacturing or research and development expense in the first quarter of 2000. Samuel S. Gross, Compositech’s Chief Financial Officer, said “Our operating cash requirement has been reduced to a level of approximately $120,000 a month. We expect further reductions as we pursue our plan of licensing our technology, joint ventures, sale of technology and merger or acquisitions. As part of this program, we are negotiating for additional required funding to satisfy existing liabilities and cover our reduced overhead until sufficient revenues are obtained from licensing programs. Discussions are progressing for potential mergers or acquisitions and related financing and we hope to have announcements on these in the near future.”